NEO price action has been reflecting moderate upward momentum for the past few days but has recently seen a sudden drop in prices and is currently trading at around $ 7.21. This bearish price move started yesterday and has continued until today.
The technical indicators reflect a slight improvement in the coin. The hours ahead could give intraday traders an opportunity to exit and save themselves from further losses. Check out our Neo prediction to know the possible price levels for the near future.
NEO price analysis
TradingView’s NEO / USD chart
The NEO price was spotted at $ 7.6 during its opening yesterday and over the next 4 hours the price escalated to $ 7.82. However, the currency experienced strong pullback pressure in later hours and the price fell 4.55% to $ 7.38. From that low point, NEO / USD improved and at 15:25 UTC it hit $ 7.62, up 3.17%. The currency was unable to sustain itself at this level and fell again to the low of $ 7.13 at 20:00 UTC. The day ended at $ 7.21 with an intraday regression of 5.18%.
Today NEO price escalated to $ 7.34 and continued to trade in a similar range with moderate fluctuations. At the time of writing, the price has dropped from $ 7.31 to $ 7.22, holding support from its SMA 50 at $ 7.21. The MACD chart reflects the bearish signal.
The chances of falling to the immediate support at $ 7.21 are relatively higher as it is trading with immense pressure.
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